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#725: Barbara Corcoran — How She Turned $1,000 into a $5B+ Empire: PR Stunts, Sales Techniques, Critical Early Wins, Fighting Trump, and Becoming a Real Estate Mogul

The Tim Ferriss Show

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Overpaying for Value in Real Estate and Building Relationships

The speaker intentionally overpaid by $100,000 for a trailer park because it seemed undervalued to him and he believed in using real estate for long-term rather than worrying about immediate costs. He shared a strategy of overpaying to get tasks done efficiently, which he learned from a real estate magnate who advised that overpaying helps in securing what you desire. Building relationships with neighbors in the trailer park was essential to the speaker as they were genuine, caring, and shared common values, unlike in urban settings. Overpaying in real estate and construction projects has been a successful strategy for the speaker, leading to quick completion of projects and effective deals. The sense of community and genuine relationships in the trailer park made the speaker value the property even more.

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